03 March Markets open in red, Nifty below 8,900, Elite Investment Advisory Services

Benchmark indices were opened in red in early trade on Friday on weak global cues. At 10:15 am, the BSE Sensex, was down 63.39 points or 0.22% at 28,776.40. The Nifty50 index was currently down 25.20 points or 0.28% at 8,874.55. In broader markets, the BSE Mid-Cap index was currently down 0.26% and the BSE Small-Cap index was currently down 0.03%. The market breadth, indicating the overall health of the market, was negative. On BSE, 695 shares fell, 567 shares rose and a total of 53 shares were unaffected.

Tata Motors, Bharti Airtel, RIL, Axis Bank, Dr Reddy's Labs, Hindalco, Bharti Infratel, Grasim and UltraTech were gainers, whereas Tata Steel, Infosys, ITC, Asian Paints, TCS, Kotak Mahindra Bank, and Bank of Baroda were under pressure. On Goods and Services Tax update, the GST Council is likely to get the power to raise the rate up to 40% for any item in future, without the need for parliamentary approval.